Irregular supply of Iron ore and Coal have maintained Sponge iron prices in the country. Sponge manufacturers are reluctant to reduce offers despite falling conversion gap between Sponge & Billet.
“Iron ore supply has fallen in the domestic market amid mining restrictions in Odisha. Also, 50:50 rule in Odisha is hampering supplies to steel industry located outside Odisha,” said a manufacturer based in West Bengal.
Iron ore miners like NMDC, Rungta and Essel have held their prices, witnessing rising imports in Indian market.
Sponge Offers as on 03 Aug, 2014 (Ex-Works)
|
Place |
Grade |
C-DRI |
P-DRI |
Remarks |
|
Rourkela |
78-80 |
20,500 |
19,100 |
Sponge prices are stable from last 8-10 days. Whereas, Ingot offers reduced by INR 500-600/MT W-o-W |
|
Jharsugda |
79-80 |
– |
19,200 |
Manufacturers selling Pellet sponge to Jalna; freight assessed at around INR 1,600/MT |
|
Raigarh |
79-80 |
21,900 |
20,000 |
Low delivery positions |
|
Raipur |
80 |
21,800 |
19,900 |
Sponge (DR CLO; Lump) is offering at INR 22,400/MT |
|
Durgapur |
78 |
21,300 |
19,300 |
Association has fixed the conversion gap from Sponge pellet to Billet at INR 11,500/MT |
|
Bellary |
77-78 |
20,600 |
18,900 |
Prices have raised owing to local transport issues |
|
Hyderabad |
77 |
– |
19,200 |
C-DRI (FeM 70) is offered at INR 18,800-18,900/MT |
Basic prices; all taxes are applicable
Payment next day/advance
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